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Key Details
Sold Price $1,685,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Subdivision North Long Beach (Nlb)
MLS Listing ID PW24105603
Year Built 1960
Annual Tax Amount $22,397
Lot Size 5,662 Sqft
Property Description
Pleased to present 6508 Orange Avenue, a secure 8-unit apartment building in the heart of vibrant Long Beach, California. Built in 1960, the property consists exclusively of two-bedroom/one-bathroom units. For added comfort and convenience, the property features an on-site laundry facility as well as (4) off-street parking spaces for tenants to use. This apartment building offers residents easy access to an array of local amenities including shopping centers, restaurants, entertainment venues, and recreational parks. With convenient access to major transportation routes, commuting to other parts of the city is effortless.
Priced at $214,375/unit for this unit mix, this property is one of the more affordable deals on the market. Further, through modernization of the units and increases on current rent levels that are projected to be 53% below market, this property offers phenomenal value appreciation and exceptional future cash-on-cash returns.
Location
State CA
County Los Angeles
Area 7 - North Long Beach
Zoning LBR4N
Interior
Laundry Common Area
Exterior
Parking Features Assigned
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Conventional, 1031 Exchange, Submit
Listing Terms Conventional, 1031 Exchange, Submit
Special Listing Condition Standard
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Bought with Sam Sidhu • Rockview Inc.